Thomas Conheeney, the long-serving president of Steven A Cohen’s hedge fund SAC Capital, which pleaded guilty to insider trading last year, has stepped down from the organisation, less than a year after it converted to a family office.
Conheeney, 50, will be replaced by Douglas Haynes, 48, a former director at consultancy firm McKinsey & Co, but will remain on in an advisory role until the end of the year.